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Iran Signs Multilateral Startup Deal with Russia, Azerbaijan, Turkey

As per an agreement signed between Iran, Russia, Azerbaijan, and Turkey on the sidelines of Bakutel 2018, the four sides will establish startup centers with a joint investment of $2 million to expand technological collaboration.
The 24th Azerbaijan International Telecommunications, Innovations and High Technologies Exhibition and Conference, Bakutel 2018 was held on Dec. 4-7 at the Baku Expo Center. On the sidelines of the event, Iran’s ICT Minister Mohammad Javad Azari Jahromi met with his counterparts from Russia, Azerbaijan, and Turkey, respectively Konstantin Noskov, Ramin Namiq Oglu Guluzade, and Mehmet Cahit Turhan.
According to the Iran ICT Ministry website (ict.gov.ir), during the talks between the four ministers, an agreement was signed to set up startup centers. The centers are to connect knowledge-based companies and startups from the four nations and help build technological cooperation.
Jahromi said, “As per the agreement with Iran, Russia, Azerbaijan, and Turkey, centers will be set up to facilitate scientific and technological collaboration between the four nations. Each country will invest $500,000 in the project that will link experts and the educated youth. The project will also help expand technological collaboration in the region.”

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